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Global buyers get together in SOURCING TAIWAN 2019

Source: Taiwantrade | Updated: 05 October 2019

SOURCING TAIWAN 2019- Medical Device x Cosmetics x Consumer Products was held during the third quarter of the year in Taipei on September 20. The event focused on medical and consumer products, welcoming some 33 countries and 120 international buyers to Taiwan. YEH.MING-SHUI, Secretary-General of the Taiwan External Trade Development Council (TAITRA) said that a prominent feature of this event was its largest proportion of international buyers that came from emerging countries, including Mexico, Bulgaria and Hungary, accounting for nearly forty percent. Thirty percent of buyers came from the New Southbound market, including Thailand, Singapore, and Myanmar. Among all countries, Chinese buyers accounted for the largest proportion.

To help Taiwanese manufacturers expand trade, the Bureau of Foreign Trade and the Taiwan External Trade Development Council (TAITRA) respond to changes in the external trade environment and innovate on time. They serve as a trade link between global buyers and top-rated Taiwanese suppliers. In total, TAITRA held four procurement events this year (SOURCING TAIWAN 2019). Business opportunities from the four events are expected to hit $2 billion (about NT$62 billion).

SOURCING TAIWAN, a global procurement event, has been held for 11 years. TAITRA's Secretary-General noted that it's difficult to visit emerging countries, so it's better to meet buyers in Taiwan. This time, the event focused on medical equipment and health care products, cosmetics and care-related products and sporting goods including textiles, daily commodities, lamps, toys and sporting goods. There were around 30 buyers just in the cosmetics field. Since the U.S.-China trade war, the export of sporting goods has grown year by year. In addition, lamps have become an important export item. Mr. Yeh said that the Taiwanese supply chain was small and was competitive internationally. In terms of cosmetics, exports have continued to grow for ten consecutive years, reaching over $800 million last year.

TAITRA mentioned that the export of medical and sporting industries was growing this year. In terms of this procurement event, most buyers (45 buyers) related to medical equipment. These buyers purchased mainly medical equipment, assistive technology equipment, health products, wheelchairs and hospital beds. Buyers of consumer goods mainly purchased sports goods, textiles and daily commodities.

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